The cyberthreat facing our nation is serious. Today, there are entities exploiting the globally connected Internet to weaken U.S. national security, defraud Americans and steal trade secrets — undermining the U.S. economy.

I had experience protecting critical networks when I served as Federal Communications Commission chairman. I worked with telecommunications companies to restore networks damaged by the Sept. 11 attacks. From this, I learned how critical it is for industry and government to work together, to share sensitive information in a secure space and to discuss best practices that can protect and quickly restore critical networks.

Cyberattacks are the most dangerous threats to our networks. As we know, information flow among companies in private industry, and between industry and appropriate governmental personnel, is essential. Unfortunately, there are inadequate mechanisms in place for critical information-sharing to respond to a cyberattack. This puts the nation at great risk.

But new bipartisan legislation helps address this pressing problem. The bill, from House Intelligence Committee Chairman Mike Rogers (R-Mich.) and ranking member Dutch Ruppersberger (D-Md.) due to be considered Thursday by the full House, offers important new tools for our collective effort to thwart cyberattacks. This can greatly improve our ability to defend the interests of American citizens.

Sharing network information, however, requires sensitivity to the privacy concerns of those using the network. To their credit, the sponsors have listened to these concerns and worked diligently to narrow the scope of information collected and shared in connection with cyberthreats. As the bill recognizes, we must ensure the appropriate balance between protecting personal privacy and providing sufficient authority to enable private companies to share information that will help us identify and thwart cyberattacks.

Beyond information sharing, cybersecurity policy needs to be adaptable. Cyber bad guys are constantly changing their methods. The speed and evolving nature of cyberattacks makes it difficult to predict the best approach to a particular cybersecurity threat. That’s one reason why government-imposed mandates are unlikely to be as effective as industry-led initiatives.

Industry most directly understands its networks and is better positioned to craft effective standards. Specific prescriptive rules are unlikely to be adequately tailored to all providers and cannot change quickly enough to meet an evolving threat.

Cyberthreats will be with us forever. The country needs bold and innovative solutions implemented by companies, government and consumers working together. Good information is the key — because this is one area where what you don’t know can hurt you.

Michael Powell is a former chairman of the Federal Communications Commission. He is now the president and chief executive officer of the National Cable & Telecommunications Association.